Job to applicant ratio for October 1.55 versus 1.52 estimate. That is the highest ratio since January 1974

The Japan employment data showed the jobless rate coming in as expected at 2.8% this was also the same level from last month. It remains the lowest level since 1993.

The jobs to applicants ratio rose to the highest level since January 1974 at 1.55 vs 1.52 last.

in other news Japan October household spending came in at 0.0% YoY this was better than the -0.3% expected.

Employment is good but inflation continues to remain well below 2% target.

The USDJPY trades a few pips lower to 112.56 from 112.62 just before data was released.